Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$847M in Q2 2013 → $724M now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Ptc Therapeutics Inc | 10.4% | Trimmed 0.3% | 918,846 | $75M |
| Acadia Pharmaceuticals Inc | 10.0% | Trimmed 0.3% | 2,864,096 | $72.5M |
| Insmed Inc | 6.1% | Trimmed 0.3% | 413,980 | $44.1M |
| Mirum Pharmaceuticals Inc | 5.6% | Added 7.3% | 348,808 | $40.8M |
| Anaptysbio Inc | 5.6% | Trimmed 5.4% | 603,489 | $40.7M |
| Biomarin Pharmaceutical Inc | 5.4% | Trimmed 0.4% | 682,777 | $39.1M |
| Dyne Therapeutics Inc | 5.1% | Trimmed 0.3% | 1,647,521 | $36.6M |
| United Therapeutics Corp | 4.7% | Trimmed 0.4% | 62,587 | $33.9M |
| Disc Medicine Inc | 4.2% | Added 3.7% | 416,646 | $30.5M |
| Biogen Inc | 4.2% | Trimmed 0.3% | 140,279 | $30.3M |
| Iovance Biotherapeutics Inc | 3.0% | Trimmed 17% | 5,296,209 | $22M |
| UP Ultragenyx Pharmaceutical In | 2.8% | Unchanged | 596,495 | $19.9M |
| Novocure Ltd | 2.7% | Unchanged | 1,280,439 | $19.4M |
| Syndax Pharmaceuticals Inc | 2.6% | Unchanged | 864,986 | $18.9M |
| Annexon Inc | 2.3% | Unchanged | 2,948,090 | $16.8M |
| Bicara Therapeutics Inc | 2.3% | Unchanged | 550,408 | $16.3M |
| Caredx Inc | 2.1% | Unchanged | 531,870 | $15.2M |
| Celldex Therapeutics Inc | 2.1% | Added 35% | 399,856 | $14.9M |
| Compass Therapeutics Inc | 1.8% | Added 285% | 5,831,813 | $12.8M |
| Alkermes PLC | 1.8% | Unchanged | 242,560 | $12.7M |
| First Tracks Biotherapeutics | 1.7% | New | 603,489 | $12.1M |
| Prothena Corp PLC | 1.5% | Trimmed 5.4% | 1,143,155 | $11.2M |
| Travere Therapeutics Inc | 1.3% | Trimmed 27% | 167,525 | $9.52M |
| Taysha Gene Therapies Inc | 1.3% | Unchanged | 1,391,382 | $9.48M |
| Aclaris Therapeutics Inc | 1.2% | Unchanged | 1,613,430 | $8.54M |
| Agios Pharmaceuticals Inc | 1.1% | Unchanged | 213,601 | $7.93M |
| Capricor Therapeutics Inc | 0.8% | Unchanged | 229,763 | $5.53M |
| Align Technology Inc | 0.7% | Trimmed 24% | 31,389 | $5.29M |
| OT Oruka Therapeutics Inc - Restricted | 0.4% | Trimmed 44% | 33,546 | $3.19M |
| Xenon Pharmaceuticals Inc | 0.4% | Unchanged | 51,345 | $3.1M |
| Neurocrine Biosciences Inc | 0.4% | Unchanged | 18,117 | $3.05M |
| Edwards Lifesciences Corp | 0.4% | Unchanged | 33,640 | $3.04M |
| Stoke Therapeutics Inc | 0.4% | Unchanged | 84,631 | $2.77M |
| Cytokinetics Inc | 0.4% | Unchanged | 32,195 | $2.74M |
| Pyxis Oncology Inc | 0.4% | Trimmed 14% | 864,277 | $2.6M |
| Ehealth Inc | 0.3% | Unchanged | 1,482,797 | $2.21M |
| Crispr Therapeutics Ag | 0.3% | Unchanged | 39,605 | $2.16M |
| SB Sagimet Biosciences Inc-a | 0.3% | New | 250,000 | $1.93M |
| Nuvation Bio Inc | 0.3% | Trimmed 36% | 326,609 | $1.86M |
| BS Biontech Se-adr | 0.3% | Unchanged | 19,614 | $1.83M |
| CP Compass Pathways PLC ADR | 0.2% | Unchanged | 115,616 | $1.64M |
| Humana Inc | 0.2% | Unchanged | 3,985 | $1.58M |
| NP Newamsterdam Pharma Co Nv | 0.2% | New | 44,359 | $1.5M |
| Verastem Inc | 0.2% | Added 26% | 309,685 | $1.18M |
| Madrigal Pharmaceuticals Inc | 0.1% | Unchanged | 1,787 | $960K |
| Urogen Pharma Ltd | 0.1% | Unchanged | 24,500 | $902K |
| BT Bicycle Therapeutics Plc-adr | 0.1% | Unchanged | 201,890 | $856K |
| Xeris Biopharma Holdings Inc | 0.1% | Unchanged | 104,410 | $827K |
| Abeona Therapeutics Inc | 0.1% | Unchanged | 108,865 | $673K |
| Inspire Medical Systems Inc | 0.1% | Unchanged | 8,772 | $391K |
| Proqr Therapeutics Nv | 0.0% | Unchanged | 188,807 | $351K |
| Aldeyra Therapeutics Inc | 0.0% | Unchanged | 155,709 | $332K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 19, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Amicus Therapeutics Inc | Exited | −1,113,045 | −$16.1M | — |
| First Tracks Biotherapeutics | New | +603,489 | +$12.1M | 1.7% |
| Compass Therapeutics Inc | Added | +4,317,309 | +$9.45M | 1.8% |
| Denali Therapeutics Inc | Exited | −234,582 | −$4.5M | — |
| Iovance Biotherapeutics Inc | Trimmed | −1,053,354 | −$4.38M | 3.0% |
| Celldex Therapeutics Inc | Added | +103,448 | +$3.85M | 2.1% |
| Travere Therapeutics Inc | Trimmed | −62,928 | −$3.57M | 1.3% |
| Mirum Pharmaceuticals Inc | Added | +23,633 | +$2.77M | 5.6% |
| OT Oruka Therapeutics Inc - Restricted | Trimmed | −26,439 | −$2.52M | 0.4% |
| Anaptysbio Inc | Trimmed | −34,672 | −$2.34M | 5.6% |
Showing the 10 largest of 25 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Amicus Therapeutics Inc | Trimmed | −4,092,722 | −$59.2M | 2.5% |
| Mirum Pharmaceuticals Inc | Added | +168,754 | +$15.6M | 4.6% |
| Gossamer Bio Inc | Exited | −4,471,592 | −$13.9M | — |
| Insmed Inc | Trimmed | −74,213 | −$12.1M | 10.4% |
| Celldex Therapeutics Inc | New | +296,408 | +$9.4M | 1.4% |
| Acadia Pharmaceuticals Inc | Added | +388,664 | +$8.65M | 9.8% |
| Biogen Inc | Trimmed | −42,852 | −$7.86M | 3.9% |
| Denali Therapeutics Inc | Trimmed | −406,657 | −$7.81M | 0.7% |
| Disc Medicine Inc | Added | +84,263 | +$5.39M | 3.9% |
| Compass Therapeutics Inc | Trimmed | −1,017,915 | −$5.38M | 1.2% |
Showing the 10 largest of 42 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Alnylam Pharmaceuticals Inc | Exited | −32,320 | −$14.7M | — |
| Compass Therapeutics Inc | New | +2,532,419 | +$13.6M | 1.9% |
| Annexon Inc | New | +2,384,192 | +$12M | 1.7% |
| Disc Medicine Inc | Added | +93,156 | +$7.4M | 3.5% |
| Mirum Pharmaceuticals Inc | Added | +91,721 | +$7.25M | 1.7% |
| Capricor Therapeutics Inc | New | +226,304 | +$6.53M | 0.9% |
| Bicara Therapeutics Inc | New | +298,575 | +$5.03M | 0.7% |
| Avidity Biosciences Inc | Exited | −109,831 | −$4.79M | — |
| Xenon Pharmaceuticals Inc | New | +96,519 | +$4.33M | 0.6% |
| Nuvation Bio Inc | Trimmed | −482,468 | −$4.32M | 0.7% |
Showing the 10 largest of 36 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Insmed Inc | Trimmed | −373,308 | −$53.8M | 13.1% |
| Ptc Therapeutics Inc | Added | +456,144 | +$28M | 9.8% |
| Alnylam Pharmaceuticals Inc | Trimmed | −43,215 | −$19.7M | 2.7% |
| United Therapeutics Corp | Trimmed | −37,296 | −$15.6M | 4.5% |
| Staar Surgical Co | Exited | −791,879 | −$13.3M | — |
| Dyne Therapeutics Inc | Added | +997,698 | +$12.6M | 3.0% |
| UP Ultragenyx Pharmaceutical In | Added | +320,781 | +$9.65M | 2.1% |
| Iovance Biotherapeutics Inc | Added | +4,188,803 | +$9.09M | 3.1% |
| Disc Medicine Inc | Added | +78,609 | +$5.19M | 2.7% |
| Biomarin Pharmaceutical Inc | Trimmed | −86,463 | −$4.68M | 7.6% |
Showing the 10 largest of 39 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Sarepta Therapeutics Inc | Exited | −210,258 | −$13.4M | — |
| Insmed Inc | Trimmed | −122,040 | −$12.3M | 18.5% |
| Amicus Therapeutics Inc | Trimmed | −1,734,489 | −$9.94M | 6.8% |
| Biomarin Pharmaceutical Inc | Trimmed | −150,737 | −$8.29M | 9.8% |
| Disc Medicine Inc | New | +145,691 | +$7.72M | 1.6% |
| Anaptysbio Inc | Trimmed | −207,892 | −$4.62M | 3.8% |
| Staar Surgical Co | Added | +266,862 | +$4.48M | 2.8% |
| Acelyrin Inc | Exited | −1,792,895 | −$4.43M | — |
| Avidity Biosciences Inc | New | +118,886 | +$3.38M | 0.7% |
| Denali Therapeutics Inc | New | +239,809 | +$3.35M | 0.7% |
Showing the 10 largest of 33 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Insmed Inc | Trimmed | −616,312 | −$47M | 14.3% |
| Karyopharm Therapeutics Inc | Trimmed | −4,582,969 | −$17.1M | 0.2% |
| United Therapeutics Corp | Trimmed | −50,486 | −$15.6M | 6.2% |
| Alnylam Pharmaceuticals Inc | Trimmed | −57,193 | −$15.4M | 4.3% |
| Agios Pharmaceuticals Inc | New | +276,578 | +$8.1M | 1.5% |
| Biomarin Pharmaceutical Inc | Trimmed | −76,059 | −$5.38M | 13.3% |
| Dyne Therapeutics Inc | New | +333,391 | +$3.49M | 0.7% |
| Novocure Ltd | Added | +187,870 | +$3.35M | 3.4% |
| Anaptysbio Inc | Added | +176,742 | +$3.29M | 3.6% |
| Nevro Corp | Exited | −750,371 | −$2.79M | — |
Showing the 10 largest of 25 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Insmed Inc | Trimmed | −337,528 | −$23.3M | 17.2% |
| Staar Surgical Co | Trimmed | −590,833 | −$14.4M | 1.9% |
| United Therapeutics Corp | Trimmed | −27,532 | −$9.71M | 8.5% |
| RT Revance Therapeutics Inc | Exited | −1,611,787 | −$8.37M | — |
| Sage Therapeutics Inc | Exited | −1,010,833 | −$7.3M | — |
| Novocure Ltd | Added | +220,651 | +$6.58M | 3.8% |
| Biogen Inc | Trimmed | −38,768 | −$5.93M | 4.5% |
| Ptc Therapeutics Inc | Added | +121,944 | +$5.5M | 2.7% |
| Amicus Therapeutics Inc | Trimmed | −482,832 | −$4.55M | 11.2% |
| Ehealth Inc | Trimmed | −469,392 | −$4.41M | 2.7% |
Showing the 10 largest of 22 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Alnylam Pharmaceuticals Inc | Exited | −183,123 | −$44.5M | — |
| Alnylam Pharmaceuticals Inc | New | +140,681 | +$38.7M | 5.0% |
| United Therapeutics Corp | Trimmed | −83,668 | −$30M | 8.5% |
| RT Revance Therapeutics Inc | Trimmed | −3,645,299 | −$18.9M | 1.1% |
| Insmed Inc | Trimmed | −197,970 | −$14.5M | 18.4% |
| Biogen Inc | Trimmed | −60,134 | −$11.7M | 5.8% |
| Staar Surgical Co | Trimmed | −290,011 | −$10.8M | 5.3% |
| Ptc Therapeutics Inc | New | +264,469 | +$9.81M | 1.3% |
| Amicus Therapeutics Inc | Trimmed | −884,532 | −$9.45M | 11.3% |
| Iovance Biotherapeutics Inc | Added | +925,282 | +$8.69M | 3.7% |
Showing the 10 largest of 28 changes.
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